Easy Terms

"We must make it clear that debts owed to the Federal Government must
be repaid. It is not right that responsible, honest citizens should
suffer because of those who do not honor their obligations."
So said President Reagan last year, announcing a Government crackdown
on its debtors. One obvious place to start: the Small Business
Administration, where more than 10% of 150,000 loans are currently
overdue. As it turns out, one of the SBA'S heftier overdue loans
belongs to Gerald P. Carmen, 51, head of the General Services
Administration. Carmen, who has been complaining about...